The global de-oiled lecithin market is projected to grow from an estimated value of USD 156.5 million in 2018 to reach USD 232.1 million by 2023, at a CAGR of 8.2%. This market is driven by the growth in demand for natural food additives and increase in consumer awareness about clean label products. Along with this, factors such as a rise in awareness about animal health & well-being and animal feed quality are driving the market for de-oiled lecithin, globally.
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The key players in the de-oiled lecithin market include DowDuPont (US), Cargill (US), Archer Daniels Midland (US), Bunge Limited (US), and Stern Wywiol Gruppe (Germany). Other players include Lecico GmBH (Germany), American Lecithin Company (US), Lecital (Austria), Lasenor Emul (Spain), GIIAVA (INDIA) PVT. LTD (India), Novastell Essential Ingredients (France), Rasoya Proteins Ltd. (India), Clarkson Grain Company, Inc. (US), Amitex Agro Product Pvt. Ltd. (India), and Austrade Inc. (US).
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The key market players adopted various growth strategies such as new product launches, expansions, mergers, and acquisitions to cater to the increasing demand for de-oiled lecithin. These players are focusing on strategic new product launches to enhance their presence in the de-oiled lecithin market. For instance, in 2018, Cargill is focusing on expanding its product portfolio to strengthen its presence in the de-oiled lecithin market. Some key companies also adopted the merger & acquisition strategy to reach their wide consumer base in various regions. For instance, in 2017, DuPont and Dow Chemicals formed a merger agreement to form the new company, DowDuPont. Post-merger, the companies started operating into three independent divisions: agriculture, materials science, and specialty products. It helped the company to expand its presence in the ingredient (de-oiled lecithin) market. Furthermore, ADM acquired WILD Flavors GmbH and expanded its ingredients offering that includes lecithin products. The acquisition was valued at USD 2.50 billion.
Cargill, one of the global leaders in the de-oiled lecithin market, supplies and manufactures de-oiled lecithin across the globe. It offers de-oiled lecithin products that find applications in bakery, beverages (instant and powdered), confectionery, convenience foods (instant mixes, soups, and sauces), dairy, and meat & fish (ground meat products and fillings). In 2018, the company introduced a new range of de-oiled rapeseed lecithin products to complete its portfolio of GMO and non-GMO lecithin products in Europe. This new range offers great emulsification performance without compromising on taste or texture. Hence, it will allow the company to better serve the growing demand from consumers for label-friendly ingredients in bakery and snack applications.
Related Reports:
De-oiled Lecithin Market by Source (Soy, Sunflower, Rapeseed, and Egg), Application (Food (Bakery Products, Confectionery Products, Convenience Foods, and Dairy & Frozen Desserts), Feed, and Healthcare), and Region - Global Forecast to 2023
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